Back to top

FIRST AMENDMENT TO CONTRIBUTION AND REIMBURSEMENT AGREEMENT

Reimbursement Agreement

FIRST AMENDMENT TO CONTRIBUTION AND REIMBURSEMENT AGREEMENT | Document Parties: Mission West Properties, Inc | Mission West Properties, LP | Northwestern Investment Management Company | NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY You are currently viewing:
This Reimbursement Agreement involves

Mission West Properties, Inc | Mission West Properties, LP | Northwestern Investment Management Company | NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: FIRST AMENDMENT TO CONTRIBUTION AND REIMBURSEMENT AGREEMENT
Date: 3/16/2009
Industry: Real Estate Operations     Sector: Services

FIRST AMENDMENT TO CONTRIBUTION AND REIMBURSEMENT AGREEMENT, Parties: mission west properties  inc , mission west properties  lp , northwestern investment management company , northwestern mutual life insurance company
50 of the Top 250 law firms use our Products every day

EXHIBIT 10.44

Loan No. C-332757


                               FIRST AMENDMENT TO
                    CONTRIBUTION AND REIMBURSEMENT AGREEMENT


     THIS FIRST  AMENDMENT TO  CONTRIBUTION  AND  REIMBURSEMENT  AGREEMENT (this
"First  Amendment")  is made as of November 5, 2008 by Mission West  Properties,
L.P., a Delaware limited partnership ("MW"), Mission West Properties,  L.P. I, a
Delaware limited partnership  ("MWI"),  and Mission West Properties,  L.P. II, a
Delaware  limited  partnership  ("MWII")  (each a "Borrower"  and  collectively,
"Borrowers"),  and Mission West Properties,  Inc., a Maryland corporation,  (the
"Principal"),  and The Northwestern  Mutual Life Insurance  Company, a Wisconsin
corporation ("Lender").

                                    RECITALS

     A. Borrowers,  Principal and Lender entered into that certain  Contribution
and  Reimbursement  Agreement dated January 3, 2003 (the "Original  Contribution
Agreement")  regarding the  allocation and  disbursement  of proceeds from those
certain  loans (the "Loan") to Borrowers  from Lender in the original  aggregate
amount  of  One  Hundred   Million  Dollars   ($100,000,000.00).   The  Original
Contribution Agreement, as amended by this First Amendment and as may be further
amended  from  time  to  time  is  referred  to  herein  as  this  "Contribution
Agreement".

     B. Borrowers have requested Lender to consent to a release and substitution
of  properties  securing  the Loan  (the  "Substitution")  resulting  in one (1)
Property  owned by MWI and two (2)  Properties  owned  by MWII  (the  three  (3)
Properties  being referred to as the "Release  Properties")  being released from
the Lien Instruments,  as defined in the Original  Contribution  Agreement,  and
four  (4)  new  properties  (the  "Substitute  Properties")  owned  by MW  being
substituted as therefore as security for the Loan.  Concurrently  herewith,  the
Lien  Instruments  are being  amended to document  the  Substitution  (the "Lien
Instrument  Amendments").  The Term "Lien Instruments" is hereby amended to mean
the Lien Instruments,  as amended by the Lien Instrument Amendments, as the same
may be modified or amended  from time to time.  The Term  "Property"  shall mean
each individual  property subject to a Lien Instrument and the term "Properties"
shall mean collectively all of the properties subject to the Lien Instruments.

     C. As a result of the  Substitution,  MWI and MWII are being  permitted  to
prepay  without  penalty of a  prepayment  fee solely for this  prepayment  that
portion of the outstanding  principal  balance due on their respective Notes, as
defined in the Original  Contribution  Agreement,  allocated to their respective
Release  Properties  and such  amount  is  being  advanced  to MW.  Concurrently
herewith,  the Notes are being amended (the "Note  Amendments")  to document the
prepayment and additional  advance of Loan proceeds.  The term "Notes" is hereby
amended to mean the Notes, as amended by the Note Amendments, as the same may be
modified or amended from time to time.

     D. Principal  continues to be the general  partner of each Borrower.  As of
the date hereof,  Principal  owns 19.96% of MW,  21.79% of MW I and 16.27% of MW
II.

     E. As a result  of the  Note  Amendments,  the  proceeds  of the Loan  will
continue to be  allocated  and  disbursed  to the  individual  Borrowers  in the
amounts set forth in the Notes.

     F. Concurrently herewith,  Borrowers,  Principal and Lender are executing a
First Amendment to Environmental  Indemnity Agreement ("First Amendment to EIA")
with respect to the  Substitution.  The term "EIA" is hereby amended to mean the
EIA, as defined in the Original Contribution  Agreement, as amended by the First
Amendment to EIA, as the same may be modified or amended from time to time.

                                     - 1 -
<PAGE>

     G. Borrowers  understand  that the consequence of being obligated under the
amended EIA and under the amended  Loan  Documents  that secure the Loan is that
each Borrower's  respective  Property is being  encumbered as collateral for the
entire Loan which is in excess of the proceeds of the Loan allocated to it.

     H. On the basis of the foregoing facts and consideration,  each Borrower is
willing to enter into the  amendments to the Loan Documents and EIA, but only in
reliance on the acknowledgements,  representations,  warranties and undertakings
of each other Borrower contained herein.

     NOW,  THEREFORE,  in order to induce  each other  Borrower  to agree to the
Substitution,  and in consideration thereof and with the understanding that each
other Borrower is relying&nbs 


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more